AXA: E1.25bn bond issue

(CercleFinance.com) - AXA announced yesterday that it has successfully completed the placement with institutional investors of a 1.
25 billion euro Reg S subordinated bond issue maturing in 2042.

The issue is being made to finance general corporate purposes, including the refinancing of part of the group's existing debt.

The initial fixed coupon is 1.875% per annum until the end of the 6-month early redemption period (July 2032), after which the coupon becomes variable based on 3-month EURIBOR with a margin including an interest premium of 100 basis points.


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